On top of the BIT, the two countries also signed an MOU on Industry 4.0 between Enterprise of Singapore and Indonesia’s Ministry of Industry.

THE MOU creates opportunities for both parties to learn from each other in response to the Fourth Industrial Revolution.

In the tourism sector, an MOU was signed between Star Cruise company and Pelindo III to encourage more cruises and facilitate the upgrading of Celukan Bawang port in Bali as well as explore the upgrading of other ports managed by Pelindo III, such as the Tanjung Priok port in north Jakarta.

A third MOU was signed between the Indonesian Financial Services Authority and the Monetary Authority of Singapore to strengthen cooperation in financial technology and foster innovation in financial services between both countries.

Lastly, Singapore’s Ngee Ann Polytechnic and the Indonesian Ministry of Research, Technology and Higher Education’s Directorage General of Learning and Student Affairs signed an MOU on financial technology learning for higher education providers. Additionally, agreements were made to boost ties in cultural cooperation, human resource development as well as defence and security.

Speaking at a joint press statement after the agreements were signed, Mr Lee said: “We have accomplished much together in last few years under President Jokowi’s leadership. We can do much more together for the long-term benefit of our people.

“Our cooperation will continue during the next few months and I’m sure after next year’s (Indonesia presidential election) we will pick up again and grow in the years ahead.”

President Widodo also expressed gratitude for Singapore’s assistance during the recent natural disasters Indonesia faced. “Singapore was one of the first countries offering help when Palu, Lombok and Donggala were hit by earthquake and tsunami. I would like to thank you, for the sympathy and solidarity that Singapore showed,” he added. v BTNewspapaer/Source: CNA/zl